Sei Investments Co. lifted its stake in Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 247.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,734,052 shares of the oil and gas producer’s stock after acquiring an additional 1,234,350 shares during the period. Sei Investments Co.’s holdings in Occidental Petroleum were worth $112,719,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. increased its stake in Occidental Petroleum by 12.5% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,765 shares of the oil and gas producer’s stock valued at $111,000 after purchasing an additional 196 shares in the last quarter. Athena Wealth Management LLC lifted its stake in shares of Occidental Petroleum by 1.2% during the first quarter. Athena Wealth Management LLC now owns 18,547 shares of the oil and gas producer’s stock worth $1,206,000 after buying an additional 214 shares during the period. Carrera Capital Advisors lifted its stake in shares of Occidental Petroleum by 0.5% during the fourth quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock worth $1,831,000 after buying an additional 227 shares during the period. Summit Securities Group LLC grew its holdings in shares of Occidental Petroleum by 18.5% during the fourth quarter. Summit Securities Group LLC now owns 1,469 shares of the oil and gas producer’s stock valued at $60,000 after buying an additional 229 shares during the last quarter. Finally, Apella Capital LLC increased its position in shares of Occidental Petroleum by 3.4% in the 4th quarter. Apella Capital LLC now owns 7,019 shares of the oil and gas producer’s stock valued at $289,000 after acquiring an additional 233 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Zacks Research lowered Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Roth Capital boosted their price target on Occidental Petroleum from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Barclays raised Occidental Petroleum from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $59.00 to $72.00 in a report on Tuesday, May 26th. Stephens decreased their target price on Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Finally, Capital One Financial upped their target price on Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.17.
Insiders Place Their Bets
In related news, CEO Richard A. Jackson acquired 4,770 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the acquisition, the chief executive officer directly owned 444,098 shares in the company, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.50% of the company’s stock.
Occidental Petroleum Price Performance
NYSE:OXY opened at $57.68 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The stock’s 50-day moving average price is $54.85 and its 200-day moving average price is $53.47. The stock has a market capitalization of $57.37 billion, a PE ratio of 14.53 and a beta of 0.15.
Occidental Petroleum (NYSE:OXY – Get Free Report) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the company posted $0.14 EPS. The business’s quarterly revenue was down 8.3% on a year-over-year basis. As a group, equities analysts expect that Occidental Petroleum Corporation will post 5.66 EPS for the current fiscal year.
Occidental Petroleum Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. Occidental Petroleum’s dividend payout ratio is currently 26.20%.
About Occidental Petroleum
Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.
Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.
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